Cyprus Crisis Escalates – Banks May Remain Closed For Weeks

Today James Turk told King World News that the Cyprus crisis has now worsened as fear and panic reign in the once quiet Mediterranean country. Turk also stated, “… the rule of law is being eroded everywhere. Private property is under threat.” With a worried world watching closely after the attempted the Cyprus theft, here is what Turk had to say in this exclusive interview:

“The banking crisis in Cyprus is worsening, Eric. The banks there remain shut as the Cypriot politicians scramble for a solution to bailout that country’s banks. The banks were supposed to re-open this past Tuesday after a 3-day weekend from a national holiday. Then they were supposed to open today, but they remain shut. Now the authorities say they will open on Tuesday. But who knows? They could remain closed for days or even weeks, given their dire financial condition.

In fact, the EU authorities say that the Cypriot banks are insolvent….